Colorado lowers FAMLI premium rate starting in 2027
What happened
Governor Jared Polis and the Colorado Department of Labor and Employment announced a reduction in the Paid Family and Medical Leave Insurance (FAMLI) premium rate. The rate will decrease from 0.88 percent in 2026 to 0.86 percent beginning in 2027. FAMLI Division Director Tracy Marshall stated the change helps keep the benefit affordable while reducing the financial burden on workers and businesses. Workers and employers began contributing premiums to the insurance fund in 2023.
From pagosasun.com
Why it matters
The lower premium rate is designed to benefit workers by allowing them to keep more of their paycheck. It also helps businesses save money on the insurance fund, ensuring the program remains financially viable for Coloradans.
From pagosasun.com
Who's involved
- Jared PolisAnnounced the rate drop affecting Colorado workers
- Colorado Department of Labor and EmploymentManages the FAMLI program and announced the policy change
- Tracy MarshallFAMLI Division Director within the Colorado Department of Labor and Employment
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Mission FoodsSpeculative
Mission Foods could see a reduction in employer payroll costs for FAMLI due to the rate drop.
The Colorado Office of Economic Development and International Trade might benefit from improved state business competitiveness due to the lower payroll tax rate.
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The entities involved
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Colorado
state of the United States of America
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Jared Polis
American politician
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Colorado Department of Labor and Employment
department of the Colorado state government